FxWirePro: USD/MXN advances as dollar recover from post-NFP slide

• USD/MXN edged higher  on Monday as U.S. dollar staged a modest rebound  recovering some ground after a sharp decline on Friday triggered by weaker-than-expected labor market data.

•However, on Monday, the greenback found support amid short-covering and cautious market sentiment ahead of this week’s key economic releases, including ISM services data and jobless claims figures

• Meanwhile, Last week  President Donald Trump extended the negotiating deadline with Mexico by an additional 90 days, temporarily easing trade tensions between the two countries.

• The extension came as part of broader efforts to reach a long-term agreement on contentious issues such as tariffs on metals, automobiles, and fentanyl-related goods.

• The decision to delay further tariff hikes provided short-term economic and diplomatic relief to Mexico, which has been under pressure to revise its trade practices and remove non-tariff barriers.

•  Immediate resistance is located at 18.910(50%fib), any close above will push the pair towards 19.090 (61.8%fib).

• Support is seen at 18.732(38.2%fib) and break below could take the pair towards 18.514(23.6%fib).

Recommendation: Good to buy  around 18.800 with stop loss of 18.500 and target price of 19.200